Claudiu Diaconu, founder: “MAGNOR’s revolutionary rebranding process is the most innovative project in the industry in Romania”

After an impressive journey in the market, the holding company, with a history of over 15 years and leadership in its operating segment, is undergoing a complex rebranding process to become MAGNOR. Claudiu Diaconu, the founder and Chairman of the Board of Directors, shares insights into the transformations and future evolution of the Romanian entrepreneurial company.

“MAGNOR represents more than just a name change, it embodies our vision for sustained development. The rebranding is a necessary phase in our upward trajectory. We’ve built a brand we’re proud of, a testament of a successful entrepreneurial story. MAGNOR will elevate our achievements to the next level”, says Claudiu Diaconu. The founder reveals what the company’s rebranding process entails, the investment involved, and MAGNOR‘s business objectives for the current year.

After a market presence of over 15 years, during which it became a leader in its segment – both economically and in terms of reputation – CreditAmanet is undergoing a rebranding process and becoming MAGNOR. What are the reasons behind this business decision and why now?

MAGNOR, a name derived from “magnum” and “oro” (gold), reflects our leadership position in the industry and our significant business line–gold trading.

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MAGNOR’s revolutionary rebranding process is the most innovative project in the industry in Romania. It was a very complex and lengthy endeavour, further demonstrating the transparency that characterizes our operations. Additionally, it marks a new stage in the company’s evolution. We aim for MAGNOR, a registered trademark internationally, to provide customers with a refined experience that fully meets–and even exceeds–their expectations. For over 15 years, we have set industry trends and continue to do so. Our commitment to professionalism and innovation is unwavering, as we consistently invest in increasing our customers’ comfort and experience during their interactions with us. We have delighted them with advantageous programs, and we are confident that we have successfully built a solid ecosystem founded on trust.

How did you prepare for the rebranding and what changes will occur in the company?

The launch of the new brand follows a rigorous process that spanned over a year and a half. Throughout this time, we engaged in extensive research with specialized companies, solicited feedback from customers and employees–who were actively involved in these studies–and we are confident that the outcome is beneficial and meets the expectations of all stakeholders. MAGNOR represents a complex and bold transformation.

Obviously, following the change of the holding’s name, a new visual identity will emerge, signalling a more modern and appealing approach for our customers. However, changes to the visual identity are just the tip of the iceberg. Over time, we will see the transformation of the concept of all our agencies, the introduction of new customers amenities, and the implementation of innovative programs. In essence, these changes will elevate the quality a of interactions for everyone who comes through our doors. Every aspect of the company’s transformations, from communication strategies to product presentations, offers, and relationships with people, contributes to shaping an improved and authentic experience for our customers. MAGNOR will infuse a fresh breath of enthusiasm, creativity, and innovation into the organization.

However, the core essence of our brand remains intact, firmly rooted in the fundamental values of our team, which is very cohesive and efficient.

Essentially, rebranding serves as a tool that allows us to more effectively – and indeed, more boldly – express the values that have guided us over the past 15 years in the market: professionalism, innovation, transparency, creativity, and community involvement.

At the same time, it elevates the standards in our customer relationships, consolidates our market leader position, and positions us in a fresh, contemporary manner.

Core values, such as truth, goodwill, courage, honor, and creativity, are not just words for us but represent the essence of our relationship with colleagues, customers, and partners. They guide us in our activities and define our authentic and integral way of operating in the industry. The MAGNOR brand reflects an evolution that maintains our tradition but expresses it in a more relevant and innovative manner, adapted to current requirements.

Will the company’s structure undergo changes?

While we’re changing our name, our status as industry leader remains unchanged. We continue to develop our pawnshop micro-lending business line, and remain the most diverse retailer platform for trading in gold, electronics, new gold jewellry, and pre-owned luxury items. Additionally, we offer currency exchange services.

How much was the investment in rebranding?

The investment in the rebranding process exceeds 2.5 million euros, encompassing investments in conducting preliminary rebranding studies, creating a new visual identity, adapting store concepts to the new brand identity, developing the digital ecosystem, advertising campaigns, and communication.

The company has experienced double-digit revenue and profit growth year after year. What are MAGNOR’s business objectives for 2024?

MAGNOR will continue and elevate the upward trend of its predecessor. In 2024, we aim to consolidate our national network of shops by improving operational efficiency and service quality. Simultaneously, we aim to expand our presence in the industry market by opening new strategic locations to better serve customers across various regions. Another objective is to increase turnover by over 20 percentage points. We are also focusing on implementing innovative strategies within the digitalization ecosystem to optimize customer experience and remain at the technological forefront of the industry. In parallel, we aim to strengthen customer relationships by providing personalized services tailored to their evolving needs. We want MAGNOR to offer each client improved and innovative services that simultaneously strengthen our position as an industry leader.

In recent years, you have consistently invested in digitalization. Does this remain a priority in 2024?

The priority investments for the current year will focus on consolidating and promoting the MAGNOR brand, developing the two websites, www.magnorshop.ro for sales, and www.magnor.ro for services, to meet the needs of customers, and on the continuous improvement of our team. Another focus of our investments is our commitment to ESG principles. This year, we aim to strengthen and broaden our sustainability initiatives to ensure that our operations positively impact on environment and actively contribute to social projects. These efforts reflect our development vision and our responsibility towards both the community and the environment.

After the rebranding process, are you considering expanding MAGNOR’s operations into the international market?

Yes, we are pursuing an expansion of operations at the international level and an increase in our portfolio. In this regard, www.magnorshop.com is tailored to international e-commerce standards, providing the opportunity for transactions regardless of the country where customers are located.